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2021 Tax Preparation for Small Business

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Due to the unprecedented challenges of 2020, the IRS extended the traditional income tax filing deadline to May 17, 2021. While it remains to be seen whether they plan to do the same for the 2021 tax year, it is a strong possibility. . The current deadline for business tax preparation and submission is currently April 15, 2022.

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US Payroll Taxes Explained (Everything You Need to Know)

LyfeAccounting

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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Los Angeles Tax Services – Local tax firm serving all Southern California

MyIRSRelief

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. The Los Angeles County sales tax rate is 0.25%.

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Year-End Business Tax Strategy for Skagit County SMB Owners

SkagitCountyTaxServices

Year End Business Tax Strategy #1: You’re the boss. If you have employees, you have some special tax preparations to think about concerning tax preparation this year. Year End Business Tax Strategy #2: Timing’s everything. 31 to file for NOLs originating in 2020. You still have until Dec.

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The Cares Act, Skagit County Business Owners, And Student Loan Repayment

SkagitCountyTaxServices

Let’s make some tax-smart moves before 2020 comes to a close. Here’s one not many people are talking about: tax-deductible, employer-paid student loan payments. Employers can ALSO deduct the amount and not pay federal payroll taxes on the payments. 360-424-1040. Deduct it as a benefit expense.

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Provisions of the Second Coronavirus Relief Bill That Affect Skagit County Small Businesses

SkagitCountyTaxServices

Wow, does it ever feel good to have turned the page on 2020. Employee Retention Credit For The Win Beginning on January 1, 2021 (and through June 30, 2021), the new relief bill: Increases the payroll tax credit rate from 50 percent to 70 percent of qualified wages. Here is where you can do that.

CPA 98
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20 Small Business Tax Deductions You Need to Know

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If you have family members that work in your small business, there are some additional tax considerations. Family members who legally work for your business and are under 18, may be exempt from paying FICA, also referred to as federal payroll tax. Personal legal and accounting fees like estate planning are not tax-deductible. .